HealthCare & Benefits for BigLaw Associates - Can I turn it down to save $$

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Rebel0203

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HealthCare & Benefits for BigLaw Associates - Can I turn it down to save $$

Postby Rebel0203 » Fri Jun 22, 2018 3:07 pm

Hi,

Recent grad and starting BigLaw in the Fall. Have been in BigFinance for over 5 years, and have avoided eating into my salary by using SO's really good healthcare plan.

I know BigLaw salary seems to be "180,000" or "190,000" or some other round # right now, but i assume that your bi-weekly take-home is then chopped down significantly not just by your tax allocations but by medical/dental/vision/401k/dependent care FSA/health care savings account HCSA/transportation spending account/short-term disability etc. etc. - all those things indicative of good adulting. I have heard BigLaw health care benefits are good, but I am extremely happy with monthly payments/deductibles/coverage through SO medical plan and am not likely inclined to change once i get to a firm in the Fall.

For BigLaw veterans out there, can you refuse/elect not to participate in certain aspects of the firm's benefits package [and thus take home that much more every two weeks], or is the 100% benefits package just cooked into your salary and you cannot refuse [or if you refuse, you do not get any of your $ back). ---Thanks much

2013

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Re: HealthCare & Benefits for BigLaw Associates - Can I turn it down to save $$

Postby 2013 » Fri Jun 22, 2018 3:09 pm

It’s all elective. You can pick and choose.


Sorry, accidental anon.

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Re: HealthCare & Benefits for BigLaw Associates - Can I turn it down to save $$

Postby Anonymous User » Fri Jun 22, 2018 3:10 pm

Rebel0203 wrote:Hi,

Recent grad and starting BigLaw in the Fall. Have been in BigFinance for over 5 years, and have avoided eating into my salary by using SO's really good healthcare plan.

I know BigLaw salary seems to be "180,000" or "190,000" or some other round # right now, but i assume that your bi-weekly take-home is then chopped down significantly not just by your tax allocations but by medical/dental/vision/401k/dependent care FSA/health care savings account HCSA/transportation spending account/short-term disability etc. etc. - all those things indicative of good adulting. I have heard BigLaw health care benefits are good, but I am extremely happy with monthly payments/deductibles/coverage through SO medical plan and am not likely inclined to change once i get to a firm in the Fall.

For BigLaw veterans out there, can you refuse/elect not to participate in certain aspects of the firm's benefits package [and thus take home that much more every two weeks], or is the 100% benefits package just cooked into your salary and you cannot refuse [or if you refuse, you do not get any of your $ back). ---Thanks much


No its like normal benefits...just pay for the ones you want. I stopped paying for healthcare because my wife's job has free healthcare, and it was costing me over $500/mo for the 2 of us.

MaxMcMann

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Re: HealthCare & Benefits for BigLaw Associates - Can I turn it down to save $$

Postby MaxMcMann » Fri Jun 22, 2018 6:32 pm

Rebel0203 wrote:Hi,

Recent grad and starting BigLaw in the Fall. Have been in BigFinance for over 5 years, and have avoided eating into my salary by using SO's really good healthcare plan.

I know BigLaw salary seems to be "180,000" or "190,000" or some other round # right now, but i assume that your bi-weekly take-home is then chopped down significantly not just by your tax allocations but by medical/dental/vision/401k/dependent care FSA/health care savings account HCSA/transportation spending account/short-term disability etc. etc. - all those things indicative of good adulting. I have heard BigLaw health care benefits are good, but I am extremely happy with monthly payments/deductibles/coverage through SO medical plan and am not likely inclined to change once i get to a firm in the Fall.

For BigLaw veterans out there, can you refuse/elect not to participate in certain aspects of the firm's benefits package [and thus take home that much more every two weeks], or is the 100% benefits package just cooked into your salary and you cannot refuse [or if you refuse, you do not get any of your $ back). ---Thanks much


On an unrelated note, why go into BigLaw when you have a mid stage finance career?



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